Blair William & Co. IL Grows Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Blair William & Co. IL grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,004 shares of the utilities provider’s stock after acquiring an additional 4,546 shares during the quarter. Blair William & Co. IL’s holdings in Public Service Enterprise Group were worth $1,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bryn Mawr Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.5% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after purchasing an additional 135 shares in the last quarter. Crestwood Advisors Group LLC boosted its position in Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 153 shares in the last quarter. Evergreen Wealth Solutions LLC grew its holdings in shares of Public Service Enterprise Group by 1.7% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock worth $648,000 after acquiring an additional 159 shares during the period. Coldstream Capital Management Inc. grew its holdings in shares of Public Service Enterprise Group by 1.9% during the 2nd quarter. Coldstream Capital Management Inc. now owns 9,144 shares of the utilities provider’s stock worth $674,000 after acquiring an additional 172 shares during the period. Finally, KCM Investment Advisors LLC raised its position in shares of Public Service Enterprise Group by 0.3% in the 2nd quarter. KCM Investment Advisors LLC now owns 67,327 shares of the utilities provider’s stock worth $4,962,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,068 shares of company stock valued at $2,406,965. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Trading Up 1.3 %

Shares of NYSE PEG opened at $87.90 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $79.97 and a two-hundred day simple moving average of $73.83. The firm has a market cap of $43.78 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $88.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent research reports. Bank of America raised their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective on the stock. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Barclays boosted their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.85.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.